TSX Down Nearly 1%, Set For Another Weak Close

(RTTNews) - The Canadian market looks headed for another weak close with stocks from materials, technology and financial sectors reeling under sustained selling pressure on Tuesday.

Higher bond yields and concerns about escalating tensions between Iran and the U.S., and worries about a new round of US tariffs on Canadian goods weigh on sentiment.

The benchmark S&P/TSX Composite Index was down 346.95 points or 0.95% at 36,320.97 a little while ago.

Celestica is down nearly 9%. OceanaGold fell 6.5%. Ero Copper, Wesdome Gold Mines, Ballard Power Systems, Ivanhoe Mines, First Majestic Silver Corp., Brookfield Renewable Partners, Seabridge Gold, Iamgold, Lundin Gold, HudBay Minerals, CAE Inc. and Eldorado Gold are also down with sharp losses.

Bausch Health Companies is rising nearly 7%. Ritchie Bros Auctioneers, BRP, Altus, Colliers International Group, Thomson Reuters, FirstService, Boyd Services, Peyto Exploration, Vermilion Energy, Enghouse Systems, Canadian Tire Corporation, Lightspeed Commerce and Aritzia are gaining 2%-5%.

In economic news, data released by Canada Mortgage and Housing Corporation showed Canada's housing starts fell 5% in July to a seasonally adjusted annual rate of 229,074 units, down from 240,773 in June.